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Statutory Instruments

2015 No. 1835

International Development

The Asian Infrastructure Investment Bank (Initial Capital Contribution) Order 2015

Made

27th October 2015

Coming into force in accordance with Article 1

This Order is made in exercise of the powers conferred by section 11 of the International Development Act 2002 (“the Act”)(1).

Section 11 of the Act provides that where the Government of the United Kingdom becomes bound to make a relevant payment (including an initial capital contribution of the kind approved by this Order) to a multilateral development bank the Secretary of State may make the relevant payment and other associated payments specified in section 11(3).

The Asian Infrastructure Investment Bank is a multilateral development bank of the kind referred to in section 11(2).

In accordance with section 11(4) of the Act the Treasury have approved the making of this Order.

A draft of this Order has been laid before the House of Commons and approved by a resolution of that House as required by section 11(5) of the Act.

Accordingly, the First Secretary of State makes the following Order:

Citation, commencement and interpretationI1

1.—(1) This Order may be cited as the Asian Infrastructure Investment Bank (Initial Capital Contribution) Order 2015 and comes into force on the day after the day on which it is made.

(2) In this Order —

“the Bank” means the Asian Infrastructure Investment Bank established by Articles of Agreement dated 29th June 2015;

“the Government” means the Government of the United Kingdom.

Relevant paymentI2

2. The Secretary of State [F1or the TreasuryF1] may, on behalf of the Government, and in accordance with section 11 of the Act, make payment of an initial capital contribution not exceeding the equivalent in pounds sterling at the time of the payment of USD 3,054,700,000 as required by the Articles 5 and 58 of, and Schedule A to the Articles of Agreement of the Bank.

George Osborne

First Secretary of State

24th October 2015

We approve

John Penrose

David Evennett

Two of the Lords Commissioners of Her Majesty’s Treasury

27th October 2015

Status: There are currently no known outstanding effects for The Asian Infrastructure Investment Bank (Initial Capital Contribution) Order 2015.
The Asian Infrastructure Investment Bank (Initial Capital Contribution) Order 2015 (2015/1835)
Version from: 10 January 2018

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Status of this instrument

in force Provision is in force
in force* In force only for specified purposes (for detail about the purposes see/hover footnote)
not in force Not in force in England (may be in force in other geographies, see footnotes)
italics Defined term
dfn Defined term (alternative style)
gry bckgrd the in-force status of the provision is complex, check the footnotes
footnote commentary transitional and savings in force status related provisions geo extent insert/omit source count in force adj
F1 Words in art. 2 inserted (10.1.2018) by The Transfer of Functions (International Development) Order 2017 (S.I. 2017/1283), art. 1(2), Sch. para. 11 (with art. 3) this amendment (text inserted) should be read in conjunction with other related provisions, see the commentary. inserted
I1 Art. 1 in force at 28.10.2015, see art. 1(1)
I2 Art. 2 in force at 28.10.2015, see art. 1(1)
Defined Term Section/Article ID Scope of Application
the Act Preamble def_903758599e
the Bank art. 1. def_0e7fbd3440
the Government art. 1. def_dd2a40eb6f

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